Mir cards occupied a quarter of the market in terms of the turnover of non-cash payments in Russia


By October of this year, 108.6 million Mir cards were issued in Russia. According to the results of nine months, the national payment system for the first time occupied more than a quarter of the payments market – it accounted for 25.2% of non-cash transactions to pay for goods and services.

Mir cards occupied a quarter of the market in terms of the turnover of non-cash payments in Russia

At the same time, in terms of the issue of Mir cards, they already occupy a third of the market (32.3%), reported Izvestia with reference to the Central Bank.

In the system itself, such volumes were called “significant”. Each next percentage will require even more serious work, the financial company noted, stressing that by the end of 2023 they plan to reach the indicator of 27-30% in terms of payments outlined by the Central Bank’s strategy.

Large Russian banks noted that national card holders spend on average less than Visa and MasterCard users.

Experts noted that Mir has reached the same level in quality and technology of services with international ones, but has exhausted the main growth potential at the expense of state employees. They believe that further competition is expected in the area of ​​loyalty programs.

Russia is among the leaders in the share of non-cash payments in retail turnover, for seven years, according to the Central Bank, it has increased more than 2.5 times. They are sure that the potential has not yet been exhausted. According to the strategy for the development of the national payment system, by the end of 2021, the share of non-cash payments is expected to be about 72%.

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Source: RB.RU by rb.ru.

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